Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

Enter the "Deal room" for exclusive documents related to this property.

The Deal Room features confidential documents related to this property. To access the Deal Room, you will need to be logged in. If you don't have an account, please create one. More questions? Visit our FAQ.
I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Building Area

Property Description

JLL is pleased to present the exclusive listing of The Fletcher Southlands (“Fletcher”), a 320-unit apartment community located in one of Denver’s most affluent and supply-constrained submarkets of Aurora, CO. 


Current ownership has completed $1.4 million in upgrades to common spaces and $2.1 million in unit renovations. In total, 59% of unit interiors have been renovated, with ownership achieving an average premium of $179. The proven value-add potential at the property offers a new investor the opportunity to realize significant revenue growth through the renovation of 132 remaining units, including 70 classic units and 62 units updated under prior ownership. In addition to the completion of the current renovation scope in the remaining units, the property offers an opportunity to further grow premiums in previously renovated units through enhancements such as hard-surface countertops.


The attractive value-add opportunity at Fletcher is supported by an excellent location that blends a desirable suburban lifestyle with exceptional access to employment opportunities and lifestyle amenities. Fletcher is located within the low-density suburban submarket of Saddle Rock and is served by Colorado’s top school district, Cherry Creek Public Schools, which consistently serves as a major draw for residents throughout the region. Fletcher also benefits from exceptional proximity to Denver’s largest employment center, the Southeast Business Corridor, a 7-mile corridor home to over 240,000 employees and five of Colorado’s nine Fortune 500 companies. In addition to exceptional employment proximity, residents at Fletcher enjoy easy access to two of the region’s most popular shopping destinations, Southlands and Park Meadows Mall, providing an abundance of world-class shopping and dining opportunities all within ten minutes of the property. 


These strong demand drivers have traditionally produced robust rent growth and strong overall performance in the Saddle Rock submarket, with rents consistently outpacing those of many urban submarkets throughout Denver. Continued strong demand for high-quality housing in the area is expected to be confronted by a lack of new supply, a dynamic that will continue to provide ample opportunity for rental growth at Fletcher in years to come.

Investment Highlights

  • Core Plus Opportunity with Value-Add Potential
  • Affluent Demographics
  • Owning vs. Renting: Barriers to Homeownership
  • Excellent Employment Accessibility
  • Employment Expansion and Migration Driving Suburban Growth
  • Limited Supply Pipeline in Strong Suburban Submarket
  • Abundant & Desirable Retail Amenities
Last Updated Date: 24 Feb 2021
Jordan Robbins
Jordan Robbins
Senior Managing Director, Capital Markets
License details
CO-FA.40035669
Pamela Koster
Pamela Koster
Managing Director, Capital Markets

There was an error submitting your request. Please try again, or submit you inquiry here.

 

PRIVACY NOTICE

JLL, together with its subsidiaries and affiliates, is a leading global provider of real estate and investment management services. We take our responsibility to protect the personal information provided to us seriously.

Generally the personal information we collect from you are for the purposes of dealing with your enquiry.

We endeavor to keep your personal information secure with appropriate level of security and keep for as long as we need it for legitimate business or legal reasons. We will then delete it safely and securely. For more information about how JLL processes your personal data, please view our privacy statement.

+601800819387
Last Updated Date: 24 Feb 2021

Do you have any questions?  Visit our FAQ page

JLL  financing

JLL can help you finance and manage your portfolio.
Email us today to see how we can help achieve your ambitions.